A major mistake that families make is assuming there are no extra dollars that can be allocated for college costs coming from their household income. While every family’s situation is different, there are an overwhelming number of families who can free up $100, $200, $500 or even $1,000 or more per month to put towards their kids’ college education without changing their lifestyle whatsoever.

A good cash flow analysis will uncover what strategies can be used by each family. Strategies that could include debt management/consolidation, budgeting, and tax reduction.

Here are three great “cash flow” strategies to get you started:

1. Consider switching from a 15-year mortgage to a 30-year mortgage. On a $250,000 mortgage this is a difference of $597/month (assuming a 6.5% rate mortgage)

2. Consider switching to a high deductible car insurance policy. By switching one car, a family can save as much as $60/mo. Switch two cars and save up to $120/mo. Three cars = $180/mo.

3. Consider paying off high interest credit card debt with equity in the house. The average family in the U.S. carries $8,000 in credit card debt at an average of 13%,

which comes out to a payment of $182/mo. By rolling this into a new mortgage an additional $132/month is freed up for college expenses. (In this example, I assumed a 6.5% new mortgage over 30 years)

Combine all three of these strategies for an additional $909 /month of college savings. That monthly savings can pay for a lot of college bills. Plus, once college is paid for, it can go towards supplementing your retirement fund.

request a cunt cash flow analysis. It can ease the burden of funding college and make a positive impact on your family’s long term financial health.